In 2020 e-commerce sales of edible oils in Russia have seen massive growth of 70%, way ahead of the second-fastest rising channel, convenience stores, which has seen sales increase by 21%. All types of edible oil have gained share in terms of both retail volume and retail current value, though have been shrinking in foodservice volume terms as horeca establishments shut down.
Sunflower oil remains by far the largest product area in edible oils in Russia in 2020 as it overwhelmingly dominates both volume and value sales in retail and foodservice channels. Sunflower oil has also seen high current value growth rates during the pandemic, running joint-second to olive oil (alongside other edible oil), and has been the fastest-rising type of oil in terms of retail volume growth.
In 2020, olive oil remains the second most popular edible oil among Russians, in terms of both retail volume and retail current value. It has also seen the second-highest retail volume growth, behind sunflower oil, and is the fastest riser in current value terms.
Vegetable oils such as corn, soy and rapeseed account for a tiny proportion of total edible oil retail volume. The main obstacles to gaining share remain the competition and promotion of sunflower and olive oil, along with low consumer awareness of alternatives.
Sunflower oil, which continued to drive overall growth in 2020, will drop back down to its pre-pandemic growth rates in 2021. The product type benefits from the presence of several companies which can maintain wide distribution and low prices – especially important now that consumers will be even more price-sensitive as they face the economic fallout of COVID-19.
Temporary coronavirus-inspired restrictions on exports of some types of produce early in 2020 are in line with the direction President Vladimir Putin seemed to be heading when he signed Russia’s Food Security Doctrine In January 2020, prior to the pandemic. The doctrine outlines Russia’s new targets for domestic food production, which substantially exceed current domestic demand.
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Understand the latest market trends and future growth opportunities for the Edible Oils industry in Russia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
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This report originates from Passport, our Edible Oils research and analysis database.
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